Nov 12 - Completion of 2d High Resolution Seismic on Norfolk Prospect

Source Press Release
Company North Sea Energy Inc.First OilNautical PetroleumPremier Oil Plc 
Tags Exploration, Upstream Activities
Date November 19, 2012

North Sea Energy pleased to announce that a 2D hi-resolution seismic program on the Norfolk Prospect (block 12/16b) (20% NSE interest) has been completed after receiving approval from DECC (UK Department of Energy and Climate Change).

The weather during November has been favourable and allowed us to acquire more data than the base plan. This will allow us to test 3D migrating the data and/or creating a Geocube product.

The processing of the additional seismic will enhance our understanding of the prospect in terms of the 'up dip' extent of the Norfolk prospect and assist in the determination of the drilling target. The acquiring of the seismic data this year allows us to progress our evaluation of the prospect and to make a drilling decision sooner and without delay to the project.

About Norfolk Prospect and Norfolk East Prospect - 12/16b and 12/17b

The blocks are located in the Inner Moray Firth, a short distance from the Sutherland coast. The Norfolk prospect is a large stratigraphic pinchout and dip closure of the lower cretaceous Coracle sands with additional leads in the Punt and Beatrice sands. The best estimate undiscovered oil initially-in-place of 209.0 MMstb at Norfolk and 55.5 MMstb at Norfolk East as estimated for NSE in Sproule's Report dated July 31, 2011.

The partners in the Norfolk prospect are First Oil Expro Limited (35%, operator), Nautical Petroleum plc (20%), Premier Oil UK Limited (25%) and North Sea Energy (UK No2) Limited (20%).  Nautical Petroleum plc was acquired by Cairn Energy plc in August, 2012 and is now part of the Cairn group of companies.

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